Asian stocks fell after disappointing China services data added to concern over the nation’s economic malaise. Australia’s dollar held earlier losses after the central bank kept interest rates on hold. Hong Kong shares led regional equity declines, with the benchmark index slipping more than 1%. China’s services sector saw the slowest growth this year in August, an industry survey showed, adding to evidence the economic recovery is losing traction. The MSCI Asia Pacific Index is heading for its first drop in seven days. In more positive news, Country Garden Holdings Co. is proposing to extend principal payments for eight yuan bonds, according to holders who said they were briefed by company advisers. The developer also told creditors it’s paid coupons of two dollar bonds within the grace periods. South Korean stocks fell after inflation accelerated faster in August than economists forecast on the back of rising energy costs. That supports the case for the central bank to keep the door open to further policy tightening. The US dollar strengthened against most of its Group-of-10 peers, while Treasuries edged lower as cash trading resumed following a US holiday Monday. The offshore yuan weakened following the PMI data. Oil traded near the highest level since November after a surge driven by supply cuts from OPEC+. Gold fell. Goldman Sachs Group Inc. lowered its estimate of US recession probability. “Continued positive inflation and labor market news has led us to cut our estimated 12-month US recession probability further to 15%, down 5pp from our prior estimate,” Jan Hatzius, its chief economist, wrote in a note.
Nikkei +0.08% Hang Seng -1.33% CSI -0.53% Shanghai -0.52% Shenzen -0.49%
Eur$ 1.0794 CNH 7.2921 CNY 7.2907 JPY 146.75 GBP 1.2622 CHF 0.8853 RUB 96.4542 TRY 26.7846 WTI$ 85.92 +0.41% Gold 1,938.50 -0.22% BTC 25,718 -0.43% ETH 1,622.25 -0.36%
S&P -0.12% Nasdaq -0.05% EuroStoxx -0.14% FTSE -0.22% Dax -0.16% SMI -0.13%
Macro :
- OpenAI CEO Sam Altman First Person to Get Indonesian Golden Visa
- Goldman Cuts US Recession Chances to 15% on Improved Inflation
- UK Should Boost Capital Markets With Pensions, Says Think Tank
Keep an eye on :
Keep an eye on :
- ABN NA : ABN Amro to Name Ferdinand Vaandrager as CFO
- ACLN SW : Accelleron 1H Revenue $448.6M Vs. $383M Y/y
- ADYEN NA : Adyen Plans Investor Day in November After $23 Billion Wipeout
- AIR FP : Air France-KLM, Airbus in Talks for A350 Component Support JV
- BABA US : Alibaba Cloud Eyes State Firms for Up to $3 Billion Funding
- CO FP : Kretinsky, Investors to Take Control of Casino in March: Echos
- 2007 HK : Country Garden Avoids Default With Last-Minute Coupon Payments
- DBK GY : Deutsche Bank Faces Watchdog Probe Over Issues at Postbank Unit
- ETL FP : Eutelsat Becomes Subscriber to Karista’s Spacetech Fund
- GAM SW : NewGAMe Appeals Takeover Board Ruling on GAM Offer Condition
- GMAB DC : Genmab, Seagen Announce Tivdak Met Primary Endpoint
- GIMB BB : Gimv Sees ~€4/SHR Gain on FY Portfolio Result From Recent Deals
- HELN SW : Helvetia to Write Down CHF27M of MoneyPark Investment
- 973 HK : L’Occitane Sinks by Record 28% After Boss Ends Buyout Talks (1)
- MC FP : LVMH-Backed Luxury Watch Site Hodinkee Cuts a Fifth of Jobs
- NXGN US : Thoma Bravo Is Said to Near Deal for NextGen Healthcare
- NOVN SW : Sandoz Sees Mid-Term Core Ebitda Margin 24-26% Vs. 18-19% in ‘23
- NOVOB DC : Novo’s Obesity Drug Arrives in UK – at a Fraction of US Prices
- PGHN SW : Partners Group 1H Revenue Beats Estimates
- Polaris Management : Polaris Targets Listed Nordic Shares With New Fund, Borsen Says
- PRY IM : Prysmian in Capacity Reservation Pact for Australia Power Link
- RNO FP : Renault Chief Sees Up to €10b Valuation for Ampere EV IPO: FT
- ROTH FP : Rothschild Says 13% Stake Remains Available for Concordia Offer
- SKAB SS : Skanska Gets US Order Worth About SEK8.8b
- ZAL GY : Rising Cost of Capital Looks Like Last Straw for Low-ROIC E-Tail